Edo: Obaseki’s running mate, Philip Shuaibu casts his vote

Edo: Philip Shuaibu, the running mate of APC candidate, Godwin Obaseki, has just cast his vote at Ward 11 unit 5, Etsako West local government of Edo state.

Edo Election: Accreditation on in Oredo, Ikpoba Okhai and Ego

Edo Election: Accreditation and voting commenced in most units in Oredo, Ikpoba Okhai and Egor at about 8:30. The weather is just calm. At Emopkae primary school ward 4 where the governorship candidate of the APC Mr Godwin Obaseki will vote, voting and accreditation commenced peacefully.
So far elections has been peaceful in the three senatorial districts of the state. Armed soldiers are stationed at strategic places.

How PDP ‘ll battle tomorrow

Tomorrow’s election in Edo State is more than an election for the Peoples Democratic Party, PDP; it is a battle for political survival by the one time ruling party against the most resilient threat to it since it first berthed in the state in 1998. Not surprisingly, the party is deploying some of its most formidable captains in the battle to wrest the ship of state from the All Progressives Congress, APC.

EDO NORTH
 Although Governor Adams Oshiomhole hails from Edo North Senatorial zone, it is not going to be a clean sweep victory for the APC in the zone. In Etsako East local government area, the PDP will give a good fight as the party can boast of notable politicians such as High Chief Raymond Dokpesi, Abu Dokpesi, High Chief Stanley Odidi, Jude Imagwe, Hon Godwin Eshieshi and many others. The coming of Hon. Abubakar Momoh, a former member of the House of Representatives and grassroots political mobilizer into Pastor Osagie Ize-Iyamu’s fold will further boost the chances of the party in the local government. The showing of the Social Democratic Party (SDP) through its former senatorial candidate, Momoh in the 2015 election in Edo North notwithstanding, the final election results were clear indications that he is not a pushover in the area. The likes of Hon. Godwin Eshieshi, Joshua Ogene, and Hon. Abbas Jega and many other PDP stalwarts will take care of the Okpella axis of the local government to push for victory for the party. Aside, it is recalled that in the 2015 Presidential and National Assembly elections, the PDP won the local government. In Estako Central local government, former Chief of Staff to ex-President Goodluck Jonathan, Chief Mike Oghiadomhe, PDP State chairman, Chief Dan Orbih, Hon. Paschal Ugbome, Gen Alfred Ilogho (rtd), former Etsako Central local chairman, Emma Momoh and Alemhon Akhigbe and a former Commissioner for Lands and Survey in the Oshiomhole government, Osekhina Boi will work assiduously to ensure victory for the PDP in the election. PDP also won the local government in the 2015 Presidential and National Assembly election. Estako West where the out-going governor hails from will be a tougher battle for the PDP. Both parties will slug it there. PDP will deploy Engr. Hussein Garba, Zakari Ayonote, Jarret Tenebe, Abu Nargata, Henry Duke Tenebe and Hon Sylvanus Eruaga, the PDP member representing Etsako West 11 in the House of Assembly. In the case of Owan West and Owan East local governments, the PDP soldiers would be hoping to ride on the protest in the two councils that they were bypassed in the selection of a running mate to the APC candidate. Besides, the areas also cried of being marginalized by the Oshiomhole government. The PDP will be marshalling Senator Yisa Braimah, Alhaji Kashietu Ozeto, Barrister Ail Aji Muze, Major Oisamojie (rtd), Aimola, Ambrose Imode etc. In Akoko Edo where similar sentiments also prevail, political veterans like Dr. Tunde Lakoju, Col. Tunde Akogun, former Majority Leader in the House of Representatives, Mr. Bankole Balogun, Chief Johnson Emeasalu, Segun Saiki, Kayode Alabi, etc will be pushing the case for the PDP. EDO CENTRAL Edo Central Senatorial zone, the home of the Esan people has been predominately PDP. The Esan people have been identifying with the PDP national leader, Chief Tony Anenih since 1999. The allegations that the senatorial district was marginalised by the Oshiomhole administration, the underfunding of the Ambrose Alli University will be the currency for the PDP chieftains marshalling the attack for the party. The PDP will be deploying Chief Tony Anenih, Senators Odion Ugbesia, Clifford Ordia, Chief Tom Ikimi, Prince Tony Omoaghe, Hon.Tony Aziegbemi, Hon Friday Itulah, Chief Mike Onolemenmen, and Hon. Joe Edionwele. Foremost candidates The party firepower will also be boosted by Mrs. Philomena Ihenyen, Mr. Richard Okosun. Elder Adekunle, Hon. Akhere Ugbesia, Hon. Festus Ebea, Felix Otubu, etc. EDO SOUTH Edo South Senatorial zone is the beautiful bride that will decide the outcome of the election with the two foremost candidates from the zone. Besides, Edo South has 58 percent of the voting population who include the Bini, Esan, Afemai, Owan, Igbo, Yoruba, Hausas etc. It has three metropolitan local governments – Egor, Oredo and Ikpoba/Okha. In the 2015 Presidential and National Assembly elections, the PDP apart from wining the Senatorial seat also won three of the four House of Representatives seats in the senatorial district. Among the PDP strong men in the zone are Pastor Osagie Ize-Iyamu, the governorship candidate, Senator Matthew Urhoghide, Hon. Omoregie Ogbeide-Ihama, Chief Gabriel Igbinedion, the Esama of Benin, Chief Lucky Igbinedion, Hon. Omosede Igbinedion, Don Pedro Obaseki, a scion of the Obaseki family of Benin and a cousin of the APC candidate. The PDP also has Dr. Godwin Oni-Edigin, Mr. Clement Edo- Osagie, Bar. Nosa Adams, Larry Ogieva, Deacon Bayo Ogomon, Owele Dickson Imasogie, Deacon Mike Ehima, Bar. Chris Agbomwanegbe among others.

I am Ogodogun Oghenekevwe

Letter to my countrymen: Averting an economic meltdown via the right type of asset sales

IN my previous capacity as the Chairman of the Technical Committee of the National Council on Privatisation up until May 2015, I canvassed for the privatisation of the power sector, sale of NITEL and pushed for the sale of the refineries and the passage of the transport reform bills before time ran out on the last administration. The Nigerian economy has since taken a turn for the worse. We are now confronted by the twin evils of economic stagnation (2.06% contraction of real GDP in the second quarter of 2016) and a high inflation rate (above 17%). Stagnation + Inflation = Stagflation. Those calling for a drop in interest rates, at a time of ravaging inflation and uncontained exchange rate pressures, are guilty of carrying out a partial/jaundiced analysis. Their prescription would further destabilise the macroeconomy. These same people never seem to conclude their prescription. They should equally prescribe how to allocate scarce foreign exchange and attract forex inflows? If they would go all the way and recommend that we should allocate the available CBN dollars via a lottery, conducted on live television, where the winners pay N320/$1 and the losers head for the parallel market at N440/$1, then we can take them seriously. At least such a lottery would be “scientific”, transparent and corruption free. Ideally, the economy would benefit from a dose of stimulus, but only the type that simultaneously helps to ease Nigeria’s forex scarcity problem, rather than simply heating up the forex market further.
I am an economist, an investment banker and an entrepreneur too and so I know that, if you offer investors negative real interest rates and phenomenal forex arbitrage opportunities, then few will bother to invest in anything real. They would rather borrow Naira at low interest rates to chase Central Bank of Nigeria (CBN) dollars at N320/$1 with the aim of importing goods to sell to consumers at an effective rate of N440/$1. In effect, round-tripping will become the only worthwhile investment game in town. The time to bring down interest rates is when we have contained the inflationary pressures or are well on the road to doing so. What we need is a combination of well thought out, calibrated and properly sequenced fiscal and monetary policies supported by the right mix of macro-prudential tools. Thankfully, the Monetary Policy Committee (MPC) of the CBN recently brushed aside some ill-advised public pleas for a drop in interest rates in the face of stagflation. Monetary and exchange rate policy, based on a sound theoretical underpinning such as the Mundell-Fleming Trilemma, is clearly not everyone’s forte. The elections are over at the Federal level and I belong to the school of thought that believes that all hands must be on deck to fight Stagflation. The last administration did not save for the rainy day during an oil boom and the current administration was in denial for close to twelve months until the acute forex and petrol scarcities, occasioned by the continued pursuit of clearly unaffordable subsidies, forced a policy rethink. The CBN has half-embraced market determined exchange rates, but then it retains so many impediments to the smooth functioning of the market that we are now stuck with confusing multiple exchange rates which have spooked investors. Business confidence is exceedingly low on account of unguarded utterances by severa: Government functionaries, regulators overreaching themselves and overzealous anti-corruption agencies who take turns to harass private sector businesses. Investors see that the risk/return equation has altered dramatically – risks are up and returns are down. Stagflation is one of the most difficult macroeconomic conditions to break out of and the Nigerian elite owe it to the teeming masses to jettison our differences, end the blame game and instead work together to initiate a credible path towards both lowering the inflation rate and restoring economic growth. If we do not act now, we may face 4 to 8 years of zero per capita income growth. Italy has just completed a decade of no growth and Japan has attained that same state for close to two decades. Brazil has been in recession for three years and the economies of Zimbabwe and Venezuela are in free fall. With our large youthful population, that is unprotected by adequate safety nets, Nigeria cannot afford to emulate any of these countries. Some of the longer term structural changes that we need to institute to salvage our economy will require a bipartisan handshake because they call for constitutional changes.
Those who are calling for some form of political restructuring are right to put that on the table because it is unclear how unviable State Governments, who cannot pay salaries, can become serious economic actors over the course of the next decade. Our economy could do with some fiscal stimulus, but the Federal Government of Nigeria (FGN) has no net savings to draw upon and our external reserves have fallen dangerously low (below $25 billion). Instead, FGN faces a rising local debt burden which can only become progressively burdensome on account of high nominal Naira interest rates which are still necessary to contain inflation and help douse exchange rate pressures. The harsh reality is that the foreign exchange scarcity will continue to bite for a while because business confidence is exceedingly low and investors (local and foreign) have lost faith and now prefer to delay forex inflows.

There are two broad avenues for quickly increasing the availability of forex and these are; 1) external borrowing; or 2) asset sales. Let me quickly add that I am nervous about the former because we have weak institutions, a bloated and inefficient public service and a challenged economic team. The recent bad decision to sell subsidised forex to pilgrims after a sharp Naira devaluation for everyone else speaks volumes. That brings me to asset sales. If these are done strategically, they can constitute a triple boost to a flagging economy. They can:- 1) bring in forex; 2) improve efficiency; and 3) reduce the drain on existing resources which some FGN assets/investments presently constitute. Call this my 3-way test. I would not advocate for the sale of a “cash cow” like the FGN stake in Nigeria LNG (NLNG) at this time because it does not pass the second and third pillars of my 3-way test. Conversely, I would advocate for the replication of the very successful NLNG model, where the FGN stake is capped below 50% across the oil producing Joint Ventures (JV). The biggest obstacle to incorporating the existing JVs between FGN and the oil majors is attributable to the fact that no right-thinking business house will want to be “trapped” in an Incorporated JV (IJV) in which the FGN has majority control. What happens when FGN dissolves the Board and fails to appoint new directors, thereby leaving the IJV short of a quorum? NLNG works because FGN is not in control there. This is an excellent time to form separate IJVs with Shell, Exxon Mobil, Chevron, Total etc. but for this arrangement to takeoff properly and quickly, FGN must sell down its stake from the 55-60% that it presently holds to no more than 40% in each of the IJVs. Anybody in his right mind will gladly pay a premium to attain 51% and move away from the present clumsy and unwieldy structure where they are junior partners in a Joint Venture with a historically meddlesome and value-destructive Nigerian National Petroleum Corporation (NNPC). Adopting the NLNG model also frees the FGN from the debilitating cash calls that have become increasingly burdensome on the annual FGN budget because the IJVs will be able to borrow internationally to finance their investment programmes.

Investment programmes
I would also favour the listing of the IJVs on The Nigerian Stock Exchange by placing the balance of the 9% shareholding in each of the IJVs with the investing public. This will provide added public scrutiny (possibly better than what FGN alone can provide through board representation). The refineries should also be sold outright because NNPC has never been able to run them and their outright sale also passes my 3-way test above. If we have the discipline to transparently execute selective and strategic asset sales, that pass my 3-way test, then we can significantly reduce the extent of our recourse to worrisome external debt. Working together, we can tame this stagflation monster.


I am Ogodogun Oghenekevwe

FG deploys 200 Mopols, others to secure Bama

Maiduguri—The Federal government yesterday deployed about 200 Mobile Policemen (MOPOLs) and other para-military personnel to Bama town, Bama local government area of Borno State to restore civil authority in the town.

Borno State governor, Kashim Shettima at his temporary office in Bama, yesterday who disclosed this while welcoming the officers and men in the Police Force, NSCDC and NIS, led by Borno State Deputy Commissioner of police (Operations), Mr. Wakil Maye, promised that he will be visiting Bama frequently until the reconstruction was completed by December.

Shettima said: “I want to welcome you all to Bama town, your duties to is spread across the town and restore civil authority. Meanwhile, you are to work with the military who liberated the town from invaders because we are here for the same mission.


He assured that two months’ allowances will be paid upfront and mattresses and other items be given to them. He said: “Today, your two months allowances shall be paid that is October and November, also mattresses, mosquito nets and food will be given to you free but be extra vigilant while carrying out your duties.”

The state Deputy Commissioner of Police, Wakil Maye thanked the Governor for the gesture towards the personnel and promised that more personnel will arrive soon.

“I thank you for the support sir, we are here to support the efforts of military and facilitate the civil authority. I can assure you more personnel will be deployed soon.” DCP Maye said.

Bama, the second largest town in Borno was captured and destroyed by insurgents on September 1, 2014, but with the relative peace and its liberation by troops, the state governor relocated temporarily to Bama since last Wednesday to fast-track rebuilding of the town.


I am Ogodogun Oghenekevwe

Resist election rigging, protect your votes, Ize-Iyamu tells Edo people

The Edo PDP governorship candidate, Pastor Osagie Ize-Iyamu has advised Edo people and other eligible voters to protect their votes and resist by all means possible any attempt by the APC, security agencies and other institutions to manipulate the governorship election scheduled for Wednesday.

Advising officials of the Independent National Electoral Commission (INEC) and security agencies to do the right things by conducting a free, fair and acceptable election, the PDP candidate however stated that those who have planned to manipulate the election would be disgraced.

He also advised the electorate not to allow themselves to be insulted by Governor Adams Oshiomhole and the APC candidate, Godwin Obaseki, through any inducement, saying the APC-led government that had subjected them to unbearable hardship in nearly eight years cannot come on Election Day to offer them money or rice just to purchase their conscience.

In a press statement issued by the Media Unit of his campaign organisation on Sunday, Ize-Iyamu said that he is aware of the inhuman treatment many of his supporters, and PDP leaders had been subjected to by the Nigeria Police Force and allegedly by hired thugs in the past few days, saying the Almighty God using the electorate, Edo people would sing victory songs on Wednesday.

Accusing Oshiomhole of acting as if he’s the one contesting the election, Ize-Iyamu said that in a way, he’s the one contesting the election because he naturally wants someone to cover his dirty and criminal tracks after November 12, adding that it will never happen.

‘’The people of Edo have concerns over Godwin Obaseki, not only because of his questionable business dealings with Oshiomhole but, more importantly, his inability to account successfully for his academic qualifications”, the PDP candidate added.

‘’Oshiomhole and Obaseki have become huge liabilities in the state because of their track record of hurting people with their insincerity, wickedness and ruthless sense of betrayal. Every known prominent people and others have had a taste of these traits.”

Ize-Iyamu added that the only answer to the present sorry state of Edo State is for good men and women to punish the APC on September 28 –during the governorship election, for subjecting them to abject and gloomy poverty for years.

Ize-Iyamu gave the assurance while addressing various groups which endorsed him for the office of the Edo state governor on account of his experience, calling and capacity to deliver on his Simple Agenda which he says is his covenant with Edo people.

The groups included the Coalition of registered political parties, CRPP, the Uphill Veterans Football Club of Benin City, made up of ex-international soccer stars, the Alliance for Good Governance, the state chapter of the Freelance Photographers Association and the Telecommunications Operators and Technicians Association of Nigeria, TOTAN

The Edo PDP governorship candidate, Pastor Osagie Ize-Iyamu has advised Edo people and other eligible voters to protect their votes and resist by all means possible any attempt by the APC, security agencies and other institutions to manipulate the governorship election scheduled for Wednesday.

Read more at: http://www.vanguardngr.com/2016/09/resist-election-rigging-protect-votes-ize-iyamu-tells-edo-people/

How Buhari plunged Nigeria into recession

ONE funny aspect of this “blame game” thing, is that you only see what has gone wrong in terms of “the other person” – the person you are pointing accusing fingers at. You hardly realise that as you point one finger at the other person, three of your other fingers are also accusing you, but they are usually hidden from your sight. In the Bible, Our Lord Jesus Christ warned us not to judge others, but to first of all remove the log in our eyes before complaining about the speck in the eyes of our neighbours (or opponents).

We are in an economic recession. Two questions are pertinent: (a) how did we get there? And (b) how do we get out of it? The All Progressives Congress, APC, Federal Government, in tackling question number one, blames “others”, but it does not see the roles it played in bringing the nation into this pass. This is what I am here to address; that we do not allow them to confuse us with their unrelenting propaganda, the vessel that brought them to power and which they are depending upon to run the affairs of a nation in a deep economic distress. Fortunately, the propaganda has lost its allure in the face of massive suffering, poverty, hunger, mass joblessness and soaring crime rates. Nobody wants to hear any more excuses, and this applies even to the apologists of the regime.

APC Federal Government spokespersons – Garba Shehu, Femi Adesina, Lai Mohammed, name them – have been blaming the nation’s woes on “16 years of Peoples Democratic Party, PDP, rot”. They said they did not expect the “depth” of the rot they met. Vice President Yemi Osinbajo files in, and blames PDP Federal Government’s failure to save for the rainy day, forgetting that the APC sponsored its governors to oppose Dr. Ngozi Okonjo-Iweala’s proposal for us to save when we had an unrivalled oil boom. They also opposed President Goodluck Jonathan’s plans to deregulate the downstream sector of the economy to free up funds to attack our infrastructural deficit. Jonathan, not being “a Pharaoh” (as he put it) weakly buckled to acts which the opposition deliberately deployed to ensure his downfall.

Former President Olusegun Obasanjo had shrugged off criticisms and led Nigeria to exit the slavish debt trap of the Paris Club by engaging Okonjo-Iweala to lead the negotiations in which we paid $12 billion to escape from a $30 billion debt burden. Through acts of impunity, Obasanjo created the Excess Crude Account, ECA, and saved billions, which enabled Nigeria to survive the 2008 worldwide economic meltdown.

President Umaru Yar’Adua played a statesman’s trump card through the Amnesty deal, which ended the militancy in the Niger Delta, thus creating a new impetus for us to enjoy more oil boom till the tail end of 2014. When Jonathan assumed office, he embarked on massive infrastructure upgrades nationwide, and this manifested in our airports, roads, rail, investment in power, education (especially tertiary) and of course, democratic reforms that made it possible for a powerful opposition to arise and sweep him from office.

Of course, there was massive corruption during the PDP years, but tell me in which regime since our independence when there was no corruption, even this current Buhari regime? The only difference is that the “enemies” are being targeted, while “friends and acolytes” are being shielded.

Of course, Nigeria’s economy grew in leaps and bounds under the PDP, but it was mostly oil-fed. We became the largest economy in Africa by Gross Domestic Product,GDP, but the proceeds went mostly to a few privileged and connected individuals. A little seeped into the middle class, but the mass of the people wallowed in poverty. This was probably why the 2015 election was called “a revolution of the poor”, but where has that revolution taken us?

So, yes, the recession was caused by our failure to save for a rainy day, but it was a collective failure of the nation. Jonathan cannot escape the blame because as President, he should have stamped his foot down and done what was best for the country, rather than dance to the tune of every Tom and Harry just for him to be elected for a second term.

We are in recession because we, as a nation, thought we were an “oil-rich” country. If you compare our best production capacities vis-à-vis our humongous population, and those of other Organisation of Oil Producing Countries, OPEC, and none-OPEC countries (such as Saudi Arabia, Kuwait, UAE, Norway, Venezuela, USA Angola and others), it is obvious we are actually an “oil-poor” country and should not have depended on our oil alone for national survival. That mistake is a collective blame rooted in the mentality of the ruling class that took charge of Nigeria after the civil war. It goes beyond the PDP years; it is still evident in this Buhari administration.

Yes, we are in recession because of the renewed militancy in the Niger Delta. But who caused it? Before Buhari came in, we had massive oil theft. But when he assumed office and came at governance as if on a vengeance mission, the militancy resumed.

Read more at: http://www.vanguardngr.com/2016/09/buhari-plunged-nigeria-recession/

Yes, we are in recession because of the renewed militancy in the Niger Delta. But who caused it? Before Buhari came in, we had massive oil theft. But when he assumed office and came at governance as if on a vengeance mission, the militancy resumed.

Buhari did not realise the harm he was inflicting on the psyche of the nation when he propounded his “97%/5%” formula, which went against the Federal Character principle in the constitution. He used it to divide the country along political party, religious, regional, ethnic and sectional lines, favouring his kinsmen and supporters while neglecting those who did not support him.

Read more at: http://www.vanguardngr.com/2016/09/buhari-plunged-nigeria-recession/

We are in recession because we, as a nation, thought we were an “oil-rich” country. If you compare our best production capacities vis-à-vis our humongous population, and those of other Organisation of Oil Producing Countries, OPEC, and none-OPEC countries (such as Saudi Arabia, Kuwait, UAE, Norway, Venezuela, USA Angola and others), it is obvious we are actually an “oil-poor” country and should not have depended on our oil alone for national survival. That mistake is a collective blame rooted in the mentality of the ruling class that took charge of Nigeria after the civil war. It goes beyond the PDP years; it is still evident in this Buhari administration.

Read more at: http://www.vanguardngr.com/2016/09/buhari-plunged-nigeria-recession/

We are in recession because we, as a nation, thought we were an “oil-rich” country. If you compare our best production capacities vis-à-vis our humongous population, and those of other Organisation of Oil Producing Countries, OPEC, and none-OPEC countries (such as Saudi Arabia, Kuwait, UAE, Norway, Venezuela, USA Angola and others), it is obvious we are actually an “oil-poor” country and should not have depended on our oil alone for national survival. That mistake is a collective blame rooted in the mentality of the ruling class that took charge of Nigeria after the civil war. It goes beyond the PDP years; it is still evident in this Buhari administration.

Read more at: http://www.vanguardngr.com/2016/09/buhari-plunged-nigeria-recession/

So, yes, the recession was caused by our failure to save for a rainy day, but it was a collective failure of the nation. Jonathan cannot escape the blame because as President, he should have stamped his foot down and done what was best for the country, rather than dance to the tune of every Tom and Harry just for him to be elected for a second term.

Read more at: http://www.vanguardngr.com/2016/09/buhari-plunged-nigeria-recession/

We are in recession because we, as a nation, thought we were an “oil-rich” country. If you compare our best production capacities vis-à-vis our humongous population, and those of other Organisation of Oil Producing Countries, OPEC, and none-OPEC countries (such as Saudi Arabia, Kuwait, UAE, Norway, Venezuela, USA Angola and others), it is obvious we are actually an “oil-poor” country and should not have depended on our oil alone for national survival. That mistake is a collective blame rooted in the mentality of the ruling class that took charge of Nigeria after the civil war. It goes beyond the PDP years; it is still evident in this Buhari administration.

Read more at: http://www.vanguardngr.com/2016/09/buhari-plunged-nigeria-recession/

Of course, there was massive corruption during the PDP years, but tell me in which regime since our independence when there was no corruption, even this current Buhari regime? The only difference is that the “enemies” are being targeted, while “friends and acolytes” are being shielded.

Read more at: http://www.vanguardngr.com/2016/09/buhari-plunged-nigeria-recession/

Buhari did not realise the harm he was inflicting on the psyche of the nation when he propounded his “97%/5%” formula, which went against the Federal Character principle in the constitution. He used it to divide the country along political party, religious, regional, ethnic and sectional lines, favouring his kinsmen and supporters while neglecting those who did not support him.

Not only that, he mobilised the agencies of state security to go after his perceived opponents in a one-sided anti-corruption war which only emphasised the return of allegedly looted funds. He did not make it a holistic affair. Some individuals who felt the system was blindly and vengefully after them returned to militancy and plunged the economy deeper into recession. Security threats expanded, from Boko Haram alone in 2015 to new fronts (the Niger Delta Avengers, armed Fulani herdsmen, Indigenous People’s of Biafra/MASSOB protests, and the Shiites uprising in Kaduna).

If Buhari had, on assuming office, called Nigerians together, told them to forget about the bruising transitional politicking and work together to rescue the nation from the imminent economic doom, there would be no other security challenge except Boko Haram. If he had dealt with the armed herdsmen to protect the people, formed an inclusive government based on constitutional provisions and brought in the best hands without looking at their political affiliations, religious backgrounds and ethno-regional roots, we would be fighting the economic problems as a united front.

Buhari’s anti-corruption war is a well-received policy. Nobody can openly say anything to the contrary. Corruption is a major factor in Nigeria’s backwardness. But the anti-corruption war should have been an institutional one devoid of politics. It should not have been merely aimed at recovering stolen funds, and even that should have been extended to all who stole, not just PDP people and the president’s political opponents alone.

 

Buhari de-marketed Nigeria and Nigerians in several world capitals by calling us crooks. Every Nigerian is a crook and not to be trusted, except of course, President Buhari, the man of integrity. The Treasury Single Account, TSA, policy, formulated by the Jonathan but left unimplemented to avoid harming the financial system, was put into effect by Buhari without consultation. Banks shrivelled and started retrenching massively.

His statist policies and lack of direction for the economy created fear and uncertainties among the private sector players and investors. After waiting for a clearer picture in vain, many (like the foreign and local airlines) closed shop and left Nigeria.

Read more at: http://www.vanguardngr.com/2016/09/buhari-plunged-nigeria-recession/

His statist policies and lack of direction for the economy created fear and uncertainties among the private sector players and investors. After waiting for a clearer picture in vain, many (like the foreign and local airlines) closed shop and left Nigeria.

 

Unless Buhari starts seeing himself as the father of the nation rather than a sectional mujahid (“holy” warrior), he would never get it right. He must listen to the wise words of the Senators who are telling him to rejig himself and his government away from the blunders of the past sixteen months. If he does so, our journey out of the recession will be short.

I am Ogodogun Oghenekevwe

 

 

Buhari de-marketed Nigeria and Nigerians in several world capitals by calling us crooks. Every Nigerian is a crook and not to be trusted, except of course, President Buhari, the man of integrity. The Treasury Single Account, TSA, policy, formulated by the Jonathan but left unimplemented to avoid harming the financial system, was put into effect by Buhari without consultation. Banks shrivelled and started retrenching massively.

Read more at: http://www.vanguardngr.com/2016/09/buhari-plunged-nigeria-recession/

More soldiers killed, wounded by Boko Haram in Maiduguri encounter

Abuja – Barely 24 hours afer the Nigerian Army announced the death of 4 soldiers and 22 terrorists in a clash in Borno, anothèr officer and 3 soldiers have been killed and 16 soldiers wounded after a fierce fight in Maiduguri.
Abuja – Barely 24 hours afer the Nigerian Army announced the death of 4 soldiers and 22 terrorists in a clash in Borno, anothèr officer and 3 soldiers have been killed and 16 soldiers wounded after a fierce fight in Maiduguri.
In another development, 4 vigilantes were killed and 9 others sustained injuries when troops rebuffed an attack on Godogodo community in Kaduna state on Sunday. A statement from Army headquarters detailing the confrontations said, “Today, troops of Operation Lafiya Dole on administration patrol from Maiduguri encountered an Improvised Explosive Device (IED) and ambush between Miyanti and Dareljamal, Borno State. “The ambush was cleared and 3 Boko Haram terrorists were killed by the troops. “They also recovered a Machine Gun, 1 AK-47 Rifle and some quantity of ammunition. “Unfortunately, we lost an officer and 3 soldiers, while 16 soldiers and 3 Civilian JTF sustained injuries during the encounter. “Similarly, 2 vehicles that entered the IED were badly damaged. “The wounded have since been evacuated and are in stable condition. In a similar vein, “Gallant troops of 1 Division Nigerian Army in a joint operation with personnel of Nigeria Police and local vigilantes have today repelled a coordinated attack by gunmen on Godogodo town of Kaduna State. “The troops fought off the attackers and pursued them into the bush inflicting heavy casualty on them. “The combined security team also arrested the following 6 suspects : Lawal Gambo, Yau Sani, Bala Amodu, Ibrahim Maikaru, Abubakar Hassan and Bashiru Isa Ciroma. “Unfortunately 4 local vigilantes lost their lives while another 9 were wounded in the course of countering the dastardly attack meant to cause more loss of lives and properties of law abiding citizens of Godogodo Town. “The situation in Godogo Town has since returned to normalcy and efforts are ongoing to track the remaining fleeing bandits. “We wish to reassure citizens that the effort to safeguard life and property will continue with renewed vigour until all the rampaging bandits are brought to justice.”

I am Ogodogun Oghenekevwe

Investigate assault against our members, APC tells security agencies

The All Progressives Congress (APC) in Rivers, has called on security agencies to investigate and prosecute the perpetrators of assault and arson against its members and their property.
The Rivers Police Command had confirmed the arsonists attack on the residence of Lloyd, a former leader of Rivers Assembly and chieftain of APC.
Chief Davies Ikanya, APC chairman in the state told newsmen in Port Harcourt on Sunday that members of his party were being assaulted daily. Ikanya said that the burning of Dr Chidi Lloyd’s house was a new angle to the intimidation of APC members in the state by the opponents. He said that leaders and members of his party were being arrested, detained and charged to court on trumped-up charges before the State High Court in Port Harcourt by the Rivers government. According to Ikanya, the Rivers government is setting precedence by revisiting a `Noelle Presque’ entered in 2013 to discontinue a trial against Lloyd. “This is the first time a Noelle Presque entered is being revisited. It is purely a move to get the former leader by all means. “The Peoples Democratic Party (PDP) led government in the state is not willing to wait for proper investigation by the Nigeria Police, or follow the law on issues involving APC members,” he said. Ikanya further alleged that a landed property of APC’s State Women Leader, Mrs Caroline Nagbo, was invaded and vandalised by suspected political thugs that were on the run. He called on the Inspector-General of Police (IGP), Mr Idris Ibrahim and Director General, Department of State Services (DSS), Mr Mammam Daura, to check the “madness in Rivers’’. “We call on the Nigeria Police, DSS and other security agencies to apprehend the perpetrators and bring them to justice promptly,” he said. The APC urged aggrieved youths in Niger Delta to desist from worsening the national economy in the face of recession through bombings and destruction of pipelines.





I am Ogodogun Oghenekevwe

$31.4m Cash Deposit: How Patience Jonathan forced EFCC to expose matter

HAD ex-First Lady, Mrs. Patience Jonathan not claimed ownership of $31.4 million found in the bank account of a former presidential aide, Mr. Waripome Dudafa, the issue may not have been made public by the Economic and Financial Crimes Commission, EFCC.
investigation by Saturday Vanguard into the matter that had elicited calls in the polity for the prosecution of the former First Lady. Her decision to claim ownership of the money through a suit filed against Skye Bank at a Federal High Court in Lagos, it was learnt, easily made the commission to quit keeping the issue in the dark. The EFCC, it was learnt, got wind of the account more than three months ago, but decided to keep mute in order not to be accused of singling her out for prosecution out of former first ladies’’. A source told Saturday Vanguard that the operatives of the EFCC actually ran into the accounts in the course of investigating Dudafa over alleged diversion of N10 billion meant for Peoples Democratic Party,PDP, delegates. The source said: “It was the former first lady who put herself in a tight corner by going to court to sue Skye Bank, where the money was traced to and also asked the court to compel the EFCC to defreeze her account. “Indeed, I can tell you that the EFCC was working actively on the Dudafa case without any letter of invitation or oral invitation to the woman but she went to court to expose everything and we had no choice but to respond to her challenge. “It might interest you to note that these findings on these accounts were made since July this year but the details were yet to be made public when the former first lady slammed a fundamental rights enforcement suit on us and we were taken aback.’’ It will be recalled that a letter written by her lawyers on the matter, Granville Abibo ,SAN, and Co, stated thus: “It is noteworthy to emphasise that the said accounts, which were in US dollar denomination, were card-based accounts and our client is the sole signatory of these accounts. “The said bank officials also assured our client that they will change the account names accordingly and issue to our client new credit cards for the said accounts which were not done despite repeated demands. “However, our client has been operating the said accounts using the cards for her medical bill payments and purchases for her private purposes without any let or hindrance. “Our client was therefore surprised when the said cards stopped functioning on July 7, 2016, or thereabout. Our client immediately thereupon contacted Skye Bank Plc through our solicitors. It was only then that the bank officials informed our client that the said accounts were placed on a ‘No Debit Order’ following investigations and instructions from your commission and this is without notice to our client by either the bank or the commission. “It is in the light of the foregoing that we urge you to use your good offices to vacate the ‘No Debit/Freezing Order’ placed on the said accounts.” Mrs. Jonathan had, in the meantime, given the EFCC 14 days to defreeze her account and tender an unreserved apology. The ultimatum, which took effect on September 18, was contained in an open letter to the Chairman of the commission, Mr. Ibrahim Magu. The letter which was written by Mr. Timipa Okponipere urged the Commission to leave Mrs. Jonathan alone, just as it cautioned thus: “We shall file an action at the African Commission on Human Rights at the Gambia demanding N5 billion in exemplary and punitive damages.” The letter said: “There is no established legal or political precedent for what the EFCC is currently doing to our client. How many former First Ladies in Nigeria have received the Patience Goodluck Jonathan Treatment (PGJT) to have warranted the EFCC to engage in the effrontery to freeze our client’s accounts and subject her to public opprobrium, ridicule, and disgrace? This must stop forthwith. “Our client is a respected senior citizen of international repute, a retired Permanent Secretary and the immediate past First Lady of the Federal Republic of Nigeria. Our Client is a law-abiding citizen who has never or at all been the subject of any criminal or financial investigation, whether at home or abroad. Accordingly, she has not been found guilty of any criminal conduct throughout a sparkling public service career spanning over 35 years. “During the 5 years our client served as First Lady of the Federal Republic of Nigeria between May 2010 and May 2015; she was the Initiator of the Aruera Women Foundation and Women For Change Initiative. “Our client is the recipient of numerous local and international awards in recognition of her untiring commitment towards uplifting the living standard of women, children and the aged in Nigeria. “Sir, it is against this sterling and meritorious background of our client that we most respectfully, write to draw your attention to the numerous breaches of the 1999 Constitution (as amended) and the African Charter on Human and Peoples Rights (Ratification and Enforcement) Act 2004 committed by the Economic and Financial Crimes Commission (EFCC) in cause of the Commission’s illegal and unlawful investigation of our client for alleged money laundering. “The EFCC must realize that the Economic and Financial Crimes Commission (Establishment) Act 2004 is inferior in content and quality to both the 1999 Constitution of the Federal Republic of Nigeria (as amended) and the African Charter on Human and Peoples Rights, 2004.” It could not be ascertained yesterday whether the EFCC would summon the former First Lady to appear before it. The commission appears to be restrained by public opinion that doing so might give the impression that it is trying to get at the husband. But our source said the commission was determined to carry out its job and may commence an investigation into assets worth billions of Naira allegedly owned by the former First Lady.

I am Ogodogun Oghenekevwe

NNPC posts N24bn deficit in one month

The Nigerian National Petroleum Corporation, NNPC, yesterday, announced a deficit of N24.18 billion for the month of July 2016. The NNPC, in its Monthly Financial and Operations Report for July 2016, stated that compared to a loss of N26.51 billion recorded in June.
According to the report, ‎the deficit was in spite of an improvement in its operating revenue to N128.43 billion in the month of July, compared to a revenue of N118.39 billion in June 2016, and representing 49.84 per cent and 54.07 per cent respectively of monthly budget. The report said,”Similarly, operating expenditure for the same periods were ₦144.9 billion and ₦149.97 billion respectively, which also represents 69.10 per cent and 72.78 per cent of budget for the months respectively.
The net cash flow improved by 8.77 per cent or N2.32billion in July 2016. This improvement was largely due to increase in revenue stream from NPDC and PPMC, despite the upsurge in upstream and downstream vandalized points. “NPDC, substantial portion of crude oil sales for the month estimated to be in excess of N27 billion could not be realized due to Force Majeure declared by SPDC as a result of the vandalized 48-inch Forcados export line.” ‎Commenting on the performance of the refineries, the NNPC, “The combined value of output by the three refineries, at import parity price, for the month of July 2016 amounted to ₦20.09 billion while the associated crude plus freight cost was ₦19.31 billion, giving a surplus of ₦0.780 billion after considering overhead of ₦7.38 billion. “Despite these challenges, such as irregular crude supply and impact of pipeline vandalism, the domestic refineries have a consolidated positive cash flow for the month under review due to favorable products price variance and ongoing restoration of the refineries.‎”





I am Ogodogun Oghenekevwe

Ex-Dep Gov says Obaseki is an economy driver

Chief Lucky Imasuen, a former Deputy Governor in Edo, on Thursday described Mr Godwin Obaseki, a governorship candidate in Edo, as an economy driver the state needed now.

Imasuen made the observation during the endorsement of Obaseki by the state chapter of Pool Promoters and Agents in Benin.

He said what the state needed at this point of economy difficulties were persons like Obaseki because of his wealth of experience as an investment expert and chairman of the state economic team.

He said having been part of Oshiomhole’s government in this last seven years, Obaseki already knew what needed to be done to take the state to the next level.

Imasuen said that Oshiomhole had provided the basis for the growth of the state and what was left now was for Obaseki, who had been part of the government, to continue on the foundation that had been laid.

I am Ogodogun Oghenekevwe

Fashola:Minister explains why Buhari can’t stop blaming PDP for Nigeria’s problems

Fashola made the comments while giving a lecture on Leadership and the Politics of Reform in Africa".

Fashola also blamed the current recession on the past government’s habit of giving handouts instead of investing in infrastructure.

He made the comments while giving a lecture titled “Leadership and the Politics of Reform in Africa: Lessons from Nigeria” at the Wilson Centre in Washington D.C. on Tuesday, September 20.

“In Nigeria, the choices of yesterday make this winter a very harsh one for our people, because we did not invest in the right things. Our government of yesterday expressed its preference for providing ‘infrastructure of the stomach’, giving handouts instead of real infrastructure,” Fashola said according to ThisDay.

“This is how the seeds of today’s recession were sown. For those who say that today’s government should stop talking about yesterday, with due respect, I disagree. Yesterday will remain relevant in understanding today in order to make choices that make tomorrow different and better.

“I once used the allegory of the patient, and I think it deserves repetition. If a patient complains about stomach pain, the first question that the physician is likely to ask is: ‘What did you eat yesterday?’

“The answer helps the physician make a diagnosis and choose a prescription first to solve the problem, and to recommend further dietary habits about what to eat and what not to eat. This is what the current leadership is addressing.

 “We did not invest in roads, highways, bridges, schools and hospitals. Money was taken out of the larger society and invested in private accounts. The economy began to shrink, construction companies laid off workers, who in turn lost income, which resulted in shrinking demand for goods and services, and in turn led to national under-productivity.

“That was what we ate yesterday. The stomach pain is comparable to symptoms of bad dietary choices that manifest in the recession we now deal with. The solution is to spend on infrastructure, which has started. The recovery time is a function of what we can spend and how quickly it will go round… If an arid area of land has not witnessed rainfall in two to three years, you know what happens when the first rain falls. It literally disappears into the ground.

“In order to reach a point where any moisture is visible in the soil that may support the germination of a seed to be planted, more rain water needs to be injected. This is the best analogy I can offer for where our national economy is. But I will conclude by saying I am optimistic that we will turn things around,” he added.

King Sunny Ade, Majid Michel are a year older today

How Brad Pitt Is Handling Angelina Jolie's Surprise Divorce Filing

Twenty-four hours later and this Hollywood split continues to bring surprises.
After Angelina Jolie filed for divorce from Brad Pitt Tuesday morning, many fans of the A-list couple—including the one and only George Clooney—were more than a little shocked. But someone especially caught off guard with the filing was Brad himself.
E! News has learned that the actor found out Angelina was going to file one to two days ago, but did not know before that.
"Brad did not want the marriage to end," a source shared with E! News. "He was committed to doing what he needed to make it work. He was open to counseling."
Another insider added, "He is emotionally torn. Right now, he is devastated. He still loved Angelina and would have preferred they fight to make the marriage work. He was willing to do whatever it took to save the marriage and didn't realize Angelina had already given up on it."
While some reports have surfaced that Brad is furious, one source says he is more disappointed that the news became so public so quickly. "He has wanted to protect the children," our insider shared. "He didn't want it to play out publicly."
For those wondering if there will be a battle over custody or money, E! News has learned that the pair is trying to work those elements out privately. There have been "ongoing discussions" since the filing was announced and they are making sure the right arrangements are being made.
As both parties continue to keep a low-profile during the media frenzy, more rumors are starting to spread about what really led to the split.
Without going into specifics, our source shared that there "was a series of disagreements," but not to trust everything out in the tabloids. "A lot of people are trying to insert themselves into a situation they know nothing about," our insider pointed out.
Going forward, both Brad and Angelina's top priority will be the six children they share. And despite a difficult day when the news first broke, there are signs that things are improving.
"Both sides are in a better place. There is a commitment from both sides to look out for and protect the children," a source said. "They are both determined to protect the kids and find the best way to resolve this situation."

I am Ogodogun Oghenekevwe

Angelina Jolie to divorce Brad Pitt

Angelina Jolie has filed for divorce from Brad Pitt citing "irreconcilable differences", the actress's lawyer has confirmed.

Robert Offer said she filed for "dissolution of marriage" on Monday, adding the "decision was made for the health of the family".

"She will not be commenting, and asks that the family be given its privacy at this time," Offer added in a statement.

The couple have been together since 2004 but only married in August 2014.

Brangelina break-up: The world reacts

In pictures: Pitt and Jolie's years together

Ms Jolie's longtime manager Geyser Kosinski told E! Online: "Angelina will always do what's in the best interest of taking care of her family."

It was Pitt's second marriage, having previously wed Friends star Jennifer Aniston, and Jolie's third after Billy Bob Thornton and Jonny Lee Miller.

According to US entertainment website TMZ, the divorce papers listed the date of separation as 15 September.

It is understood Jolie is seeking physical custody of the couple's six children and is asking the judge to give Pitt visitation rights.

A copy of the papers was filed at Los Angeles Superior Court
The couple have six children together - Maddox, Pax, Zahara, who are adopted, and biological children Shiloh and twins Knox and Vivienne.
Pitt, 52, and Jolie, 41, married privately in the French hamlet of Correns in Provence in 2014.
Their children served as ring bearers at the wedding and helped illustrate Jolie's white dress with their drawings.

Marriage 'issues'

Jolie is well known for her charity work - she served as a Goodwill Ambassador for the United Nations Refugee Agency for 11 years before becoming a Special Envoy in April 2012.
In 2013, she announced she had undergone a double mastectomy to reduce her chances of getting breast cancer.
She wrote about the experience for the New York Times, saying that she made the choice after her doctor said she was highly at risk of developing breast cancer
"Once I knew that this was my reality, I decided to be proactive and to minimise the risk as much I could," she said.
Two years later, she had her ovaries and fallopian tubes removed as a preventative measure against cancer.

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Pitt and Jolie: A history

Jolie and Pitt - nicknamed "Brangelina" by fans - are one of the best-known couples in Hollywood.
They got together after meeting on the set of the film Mr & Mrs Smith, which was released in 2005.
Jolie, who is the daughter of actor Jon Voight and actress Marcheline Bertrand, rose to fame with roles in films such as The Bone Collector and Girl, Interrupted, for which she won a best supporting actress Oscar in 1999.
She starred as Lara Croft in the Tomb Raider film series and went on to appear in Changeling, Salt, A Mighty Heart, Wanted and Maleficent.
She also directed World War Two prisoner of war film Unbroken.
Pitt's early acting roles include appearing alongside Susan Sarandon and Geena Davis in Thelma and Louise.
He went on to appear in films including Fight Club, Ocean's Eleven, World War Z, Snatch and The Curious Case of Benjamin Button.
His producing work includes 12 Years A Slave, which won a best picture Oscar in 2014 and The Big Short, in which he also acted.
Pitt and Jolie most recently worked together on 2015 film By The Sea - a relationship drama written, directed and produced by Jolie.
It focused on a couple trying to repair their marriage while staying at a French hotel.

I am Ogodogun Oghenekevwe

Nigeria’s debt rises by N4.17tn in one year

The country’s debt profile has risen to N16.29tn, the Debt Management Office has said.
Statistics obtained from the DMO on Tuesday showed that the country’s total debt liability had risen to N16.29tn as of June 30, 2016. As of June 2015, the country’s total debt stood at N12.12tn.
This means that within the one-year period (July 2015 to June 2016), the country’s total debt rose by N4.17tn, or 34.41 per cent.
A breakdown of the country’s debt profile shows that external debt by the federal and state governments stood at $11.26bn or N3.19tn as of June 30, 2016. It was $10.32bn or N2.03tn by July last year.
According to the DMO, the Central Bank of Nigeria’s official exchange rates of N283 to $1 as of June 30, 2016, and N197 as at December 2015 were used in arriving at the naira equivalent of the foreign debt status.
The domestic debt of the Federal Government alone stood at N10.61tn as of June this year, up from N8.4tn a year ago.
This means that within 12 months, the Federal Government’s domestic debt profile rose by N2.21tn or 26.31 per cent.
The domestic debt of the states stood at N2.5tn at the end of June this year, whereas it was N1.69tn in July 2015. This means that within a period of one year, the domestic debt of the states rose by N810bn, an increase of 47.93 per cent.
For domestic debt, FGN Bonds remained the dominant instrument for borrowing from the domestic market, as it accounted for N7.47tn or 70.46 per cent of the Federal Government’s domestic debt profile.
The Nigerian Treasury Bills accounted for N2.9tn or 27.36 per cent of the Federal Government’s domestic debt profile.

Treasury Bonds, on the other hand, accounted for N230.99bn or 2.18 per cent of Federal Government’s domestic borrowing.
Although the Federal Government had for long acknowledged that it was borrowing too much from the domestic debt market and crowding out the private sector, current debt statistics show that the trend has not changed.
The DMO recently said that refinancing 30 per cent of the Federal Government’s domestic debt amounting to N2.56tn within the next one year posed a high risk to the economy.
The DMO, in a document, ‘Nigeria’s Debt Management Strategy 2016-2019’, said at least 30 per cent of the nation’s domestic debt would fall due within a one-year period.
It added that refinancing the 30 per cent component of the domestic debt posed high risk to the economy because of high interest rate.
It stated, “This debt stock is slightly lower than the published FGN’s total debt stock of $55,576.28m (N10,948,526.57m), because the Debt Management Strategy tool treats the NTBs stock based on the discount values and not on the face values; while for the external debt, the tool aggregates the debt by tranche and currency, and applies a common end-period exchange rate. These gave rise to the observed difference.
“The implied interest rate was high at 10.77 per cent, due mainly to the higher interest cost on domestic debt. The portfolio is further characterised by a relatively high share of domestic debt falling due within the next one year.
“Interest rate risk is high, since maturing debt will have to be refinanced at market rates, which could be higher than interest rates on existing debt. The foreign exchange risk is relatively low given the predominance of domestic debt in the portfolio.”

I am Ogodogun Oghenekevwe 

Barcelona star Lionel Messi out for three weeks

Barcelona star Lionel Messi will be sidelined for the next three weeks due to a groin strain, dealing a huge blow to his club and country.

“To lose Lionel Messi means football loses and we lose,” said Barca boss Luis Enrique.

Messi limped off just before the hour mark of the Spanish champions’ 1-1 draw with Atletico Madrid on Wednesday.
The Argentine captain is set to miss his country’s World Cup qualifiers against Peru and Paraguay next month as well as Barca’s Champions League clash at Borussia Moenchengladbach.
Messi will also sit on the Catalans’ La Liga trips to Sporting Gijon and Celta Vigo.
However, Messi should be fit in time for a reunion with old boss Pep Guardiola when Manchester City visit the Camp Nou on Champions League duty on October 19. The five-time World Player of the Year missed Argentina’s World Cup qualifier with Venezuela earlier this month due to the problem and only started Barca’s shock 2-1 defeat to Alaves 10 days ago on the bench as coach Luis Enrique bedded him back into action gently. “Now we have to look for other solutions,” added Enrique. “With Leo we are much stronger, but without him we are still a strong team.” Barca coped remarkably well with eight wins from 10 games when Messi was sidelined by a hamstring injury for two months last season. And Enrique hopes his side can show similar resilience to avoid slipping further behind Real Madrid in the title race. “Last year we had an unfortunate situation with a longer-term injury and my team played well.” Barca remain three points behind Madrid at the top of La Liga after Angel Correa’s equaliser seconds after Messi limped off handed Atletico a share of the spoils at the Camp Nou. Ivan Rakitic headed Barca into the lead just before half-time, but Atletico marshalled Messi’s star strike partners Luis Suarez and Neymar well in his absence to hold out for a point. Suarez, though, insisted he and the Brazilian can step up as they did without Messi last season. “It is a difficult injury that hurts and leaves you sad,” said Suarez. “Now we have to take responsibility.” Suarez was involved in a battle of his own as he was booked for a clash with Atletico left-back Filipe Luis six minutes from time. Luis posted a photo of a stud mark piercing his bleeding foot on his official Instagram page after the match with the message: “Just as well he didn’t touch me.” However, Suarez lambasted Luis for not reacting likewise when he was sent-off for a brutal challenge on Messi when the sides clashed back in January. “This is football, it is a man’s game and what happens on the pitch stays on the pitch,” added Suarez. “You can’t make a show of things every time something happens. Last year he didn’t post a picture of Messi. I repeat, football is for men.”

I am Ogodogun Oghenekevwe

Education, good governance key to economic growth — Tinubu

GROUP Chief Executive of Oando Plc., Mr Wale Tinubu has said that education, innovation and good governance remain key facets to sustainable long term socio-economic growth.

Mr Tinubu said this at the kick-off of the Private Sector Summit at the United Nations Global Assembly, with the theme: ‘Securing the Way Forward’

The Oando boss said: “Education remains the most powerful empowerment tool within a community. Through our Foundation we are addressing the issues of access and improving the quality of teaching and learning outcomes in primary schools, with a focus on the girl child. This has led to infrastructure projects primed to impact over 75,000 children nationwide, scholarship programmes aimed at enhancing over 9,700 lives, ICT centres geared towards over 170,000 direct beneficiaries, and teacher training programmes designed to support the lives of over 1.2 million pupils.”

“Increased indigenous participation in varying projects across sectors is accompanied by greater accountability by all of us to ensure Africa fulfills its enormous potential. My commitment to help fulfil the SDGs is unwavering”, he noted.

Mr. Tinubu also addressed African corporates’ dedication towards effectiveness, accountability and transparency—key SDG pillars for building a responsible organization focused on good corporate governance.

I am Ogodogun Oghenekevwe

Budget padding: Reps in rowdy session as Jibrin supporters battle suspension motion

ABUJA—THE House of Representatives was thrown into a rowdy session yesterday, following a motion by the Chairman, House Committee on Rules and Business, Orker Jev, over alleged infringement of members’ right and privileges by the former chairman of Appropriation Committee, Abdulmumin Jibrin.
The House, presided over by the speaker, Yakubu Dogara, resolved to refer the matter and Jibrin to its Committee on Ethics and Privileges for proper investigation, with a mandate to report its findings and make appropriate recommendations within a week. Jibrin had accused the Speaker, Yakubu Dogara, his deputy, Yusuf Lasun, Chief Whip, Alhassan Ado Doguwa, and Minority Leader, Leo Ogor, of being behind the alleged padding of the 2016 budget. Jev in the motion, had stated that the privileges of members, practices, precedents were breached by Jibrin, adding that the punishment for the act was suspension for a period not less than six months. But he was interrupted by the Jibrin supporters, led by Aliyu Madaki, who represents Dala Federal Constituency of Kano State on the platform of the All Progressives Congress, APC, who was shouting point of order to stop him from delivering his motion. This threw the House into a rowdy session. While supporters of Dogara urged Jeff to go ahead, those of Jibrin, including members of the Transparent Group, made spirited but unsuccessful efforts to stop the motion. Jev, who moved the motion about 11:48am, had in his introductory remarks, stated that there were expectations, especially from the media that the House was going to be rowdy, adding, “we will disappoint them.” He said: “I am asking for permission to move a motion on the collective breaches of privileges of members.” This was greeted with repeated shout of nay from Jibrin’s supporters, and for about one hour, the House was rowdy as the sergeant-at-arms quickly formed a ring around the Mace to protect it. This did not, however, deter Jev who went ahead to read his motion, which was later passed through a resounding voice vote and referred to the Ossai Nicholas Ossai-led Committee on Ethics and Privileges. As the melee continued, Jibrin left the chamber, while supporters of Dogara who were in majority, started distributing green muffler bearing the name of the speaker. Jev, in his motion, noted that Jibrin was relieved of his appointment as Chairman of the House Committee on Appropriation on July 21, 2016, adding that a day after his removal, he (Jibrin) allegedly embarked on a campaign of calumny and denigration by making false and scandalous statements and publications in the print, electronic media and internet against the entire membership and institution of the House of Representatives and National Assembly. He said the contemptuous statements made by Jibrin against the House and its members were punishable by six months suspension. However, the embattled former Appropriations Committee chairman, Abdulmumin Jibrin, said yesterday he would not appear before th ethics committee. He said he would only appear on the condition that the Ethics Committee conducted its investigation in public. Jibrin, who represents Kiru-Bebeji Federal Constituency of Kano State, said: “I attended the sitting of the House today (yesterday) and carefully observed the proceedings concerning the allegations of budget fraud and corruption I leveled against Speaker Dogara and three other principal officers.”

I am Ogodogun Oghenekevwe

SIT-AT-HOME: Police warn group, as IPOB says no going back on protest

*Fear grips Anglican Bishops over IPOB’s order
*Abia over planned protest
*Group supports protest
Awka—THE five-day standing committee of the Church of Nigeria, Anglican Communion, ended abruptly in Awka, on Wednesday, following the sit-at-home threat by the Indigenous People of Biafra, IPOB. The meeting, attended by 170 Bishops from all the Dioceses in the country, was the highest decision-making gathering of the church and would have ended on Friday.
According to the IPOB threat, all markets, banks and other institutions would be shut and movement restricted in the entire South East geo-political zone. There were visible signs yesterday in the state of security beef up in various parts of the state. Primate of Nigeria, Anglican Communion, Most Reverend Nicolas Okoh, who expressed concern over the IPOB order, had earlier pleaded with the group to allow the Bishops leave the state, arguing that the order would adversely affect their departure if carried out. He said: “IPOB threatened to shut down markets and other institutions and restrict movement in the entire South East. We are not delving into the reasons for their agitation, but we are asking them to wait until we leave Awka on Friday. “ If they go ahead to carry out that order, we may be trapped in Anambra as the Niger Bridge is the only exit route from Anambra State for most of the Bishops. So, people should help us beg them to allow us to go.” Though yesterday was the official opening day for the meeting, the Bishops decided to leave the state immediately so as not to be caught in the web of IPOB planned Friday programme. One of the Bishops from the Northern part of the country said yesterday: “We are human and so we had to put our heads together and that is why we decided to cut short the conference. “That is the most ideal thing to do in the circumstance. I will leave this evening and most others will do same. Those who cannot make it today (yesterday) will do so early tomorrow (today). There is no need waiting; it doesn’t make sense.” Following the decision, the Bishops hurriedly issued a statement appealing to the Niger Delta militants to stop the bombing of oil facilities in their region in the interest of the country. They also appealed to President Muhammadu Buhari to convene a roundtable meeting between government and the agitators in order to address their grievances. Delivering his address at the meeting earlier, the Primate appealed to the Federal Government to disarm the Fulani herdsmen who, he noted, had murdered the peace of the country. His address read in part: “The Standing Committee wishes to make a passionate appeal to the militants to spare our economy and stop the bombing of oil facilities. “Shutting down the economy is like pulling down the roofs with all of us inside; nobody will escape the negative impact. We equally call on those who can reach them to join in this appeal for the greater good of all. “We call on the Federal Government to immediately disarm these people to return Nigeria to a state of peace.”

No going back on protest –IPOB
Meantime, IPOB has called on Biafrans to resist intmidation, harassment and senseless killings against freedom agitators in Nigeria, saying there is no going back on the sit-at-home order. In a statement signed by its Media and Publicity Secretary Mr Emma Powerful, titled “To set ourselves free” the IPOB Directorate of States, DOS, urged all and sundry irrespective to where they come from to observe the peaceful protest against the continued detaintioin of Mr Kanu. “As we make our positive statement on Friday, about how we feel in this false union and false marriage of incompatible bed fellows, between 7am and 4pm, by sitting at home, it becomes necessary to remind ourselves why it is important to save and protect the future of our unborn progeny.”

Abia police warn
But as members of Indigenous Peoples of Biafra, IPOB, prepare for their world wide protest and sit-at-home action tomorrow, in all ‘Biafra Land,’ Abia State Police Command has warned that it would deal decisively with anybody or group that attempts to disrupt economic and social activities in the State. IPOB said the planned protest and sit-at-home is to push for the release of their detained leader, Mazi Nnamdi Kanu. Already, the Uchenna Madu-led Movement for the Actualization of the Sovereign State of Biafra, MASSOB, has thrown its weight behind the planned protest. But the state Commissioner of Police, Mr. Leye Oyebade has told them that it is only the government that has the power to declare public holiday, warning that any group that tries to infringe on the law by forcing public holiday on the people would be dealt with decisively, according to the laws.

Group supports protest

Also yesterday, World Alliance Against Terrorism, Violence and Inhuman Treatment, WAATVIT reacted to the proposed sit-at-home order of IPOB,saying that by virtue of the provisions of international convention on people and political rights, endorsed by Nigeria and other countries and by virtue of their membership of the United Nations, UN, every citizen of any country has the right to peacefully assemble for the purposes of agitation for a particular cause. President of the group, Barrister (Dr.) Anthony Orunkoya therefore stated that IPOB has the right to assembly, warning however that such calls by their leaders for them to assemble and agitate for the release of Kanu must be in consonance with the law of Nigeria. According to Orunkoya, “the international convention on peoples and political rights of the UN which Nigeria is a signatory to, recognizes peaceful civil disobedience like sit-at-home action, labour or work boycott or labour strike action as a means of agitating for a particular course, hence the IPOB under the convention had called for a sit-at-home action of its members as long as their action does not breach peace, order and security of Nigeria and other Nigerians who may want to go about their lawful duties.”

I am Ogodogun Oghenekevwe

Jibrin calls Reps members ‘thieves’

Former chairman of Appropriation Committee, Abdulmumin Jibrin has called some House of Representatives members ‘thieves’ and ‘shameles’ this came after the rowdy session engendered by the motion to calling for his suspension. Jibrin on his twitter handle during a night drive Wednesday tweeted ‘Dinner then a peaceful night drive…make I enjoy small before I go deal with those shameless thieves.
Abdulmumin Jibrin also in a press statemet on the same twitter handle declered that he will not appear before the Ethics Committee unless the proceedings are made public and that Nigerians are being taken for granted.. ‘I am ready to appear before the committee even today if the proceeding will be public’
Below are some of the tweets and the press statment ‘Interesting day at the House. Nigerians are being taken for granted. The next few days will be decisive! I will tweet my position shortly The allegations are too grievous to be reduced to such process open to manipulation and tele-guiding. I will therefore continue to cooperate with the anti-graft agencies who are already investigation the matter. I will also proceed to build a massive coalition with CSO & well-meaning Nigerians to ensure that this matter is not swept under the carpet. I am ready to appear before the committee even today if the proceeding will be public Predictably, in his speech, Mr Speaker tried to drag the House into the matter to give the impression that the entire House is the accused. I wish to state for the umpteenth times that the allegations are against Dogara, Lasun, Doguwa, Ogor and few others; NOT the entire House. You will recall that Mr Speaker had tried unsuccessfully in the past to drag other institutions and individuals into this matter. It will be tragic if the House condones a situation where some few corrupt members will commit offence and then use the institution of the House as a shield to evade justice. This is the script Speaker Dogara is trying to implement. It is a known fact that the Speaker was able to rally support at the caucus meetings he organized by applying heavy blackmail on members. I wish to call on members to be courageous and live above such blackmail & deal urgently and decisively with these individual allegations. Anything short of this, will drag the entire House into a scandal that it has never witnessed. This is what the Speaker & his cabals want. Typical of a drowning person, he wants everybody to go down with him. We must not allow ourselves to fall into his trap. The bad news is that in the face of such grievous allegations on Mr Speaker, which members are aware of, and his decision to sit tight, the Speaker has become a lame duck. But more painfully is that we will continue to call them Principal officers though in the short run. Let me use this opportunity to reassure Nigerians that the struggle has just begun and there is no going back.”

I am Ogodogun Oghenekevwe

Recession: Rejig your cabinet, Senators tell Buhari

*Want Adeosun, Udoma sacked or redeployed
*Call for renegotiation of pacts with oil majors to free funds for devt
*Seek cut in interest rates, provision of guarantees to secure bank deposits
*Ekweremadu, Akume disagree on sale of government oil assets ABUJA — TO fast track Nigeria’s recovery from economic recession, some Senators, yesterday, urged President Muhammadu Buhari to sack or redeploy some of his ministers, who are currently saddled with the onerous task of managing the economy.
Specifically, the legislators want the Minister of Finance, Mrs Kemi Adeosun and her counterpart in the Ministry of Budget and Planning, Senator Udoma Udo Udoma, relieved of their duties or redeployed to other ministries where they could be more competent and productive. The call was one of the numerous suggestions the lawmakers proffered, yesterday, to put the country on the path of recovery when they began debate on the economic quagmire the country is mired in. The debate, which came 24 hours after Senate President, Dr. Bukola Saraki, urged the Federal Government to consider the sale of oil assets, saw no fewer than 23 senators reeling out ideas on the way forward. According to the senators, a quick exit from recession depends on how urgently the nation tackles a host of economic, social, political, educational, health and attitudinal issues.

Short, medium, long term solutions

The senators, who suggested short, medium and long term solutions, urged the government to look at power devolution, granting of autonomy to states and local governments, sale of non-performing assets, renegotiation of agreements with oil majors to free resources for development, confidence building to attract Foreign Direct Investments (FDIs) as well as restructuring of the polity. According to them, President Buhari should engage the masses directly instead of town hall meetings by ministers, reshuffling of his cabinet, and amendment of the constitution to empower the Federal Government to save a percentage of the nation’s revenues against the rainy day. Other suggestions include full diversification of the economy, encouraging small and medium scale industries to thrive and produce for export, increase in spending by the government, reduction of interest rates, provision of guarantees to safeguard bank deposits, generating new sources of forex earnings, ban of food items that can be locally produced, constitution of boards of federal agencies as well as blockage of leakages in the system. The lawmakers also asked the government to pacify Niger Delta militants through dialogue to stop the present blowing up of pipelines in the Niger Delta.
They also called for the use of recovered funds to finance the 2016 budget, adding that the government should invest in agriculture, revisit the Treasury Single Account (TSA), borrow in the short term to stabilise the economy, provide legal backing for the Sovereign Wealth Fund, SWF and the recently launched ‘Change Begins With Me’ campaign by President Buhari. According to them, there is also need for training and empowerment of youths and women, supply of farm inputs like fertilizers and seeds, addressing multiple taxation, review of the minimum wage and demand for higher productivity from civil servants, improvement in the security situation and care for Internally Displaced Persons, IDPs, using 10 per cent of the national budget to fund agriculture, increasing the petroleum refining capacity of the nation through establishment of modular refineries, establishment of health and educational centres of excellence to discourage medical and educational tourism.

Ekweremadu, Melaye speak

In their contributions, Deputy Senate President, Ike Ekweremadu (PDP, Enugu West) and Senator Dino Melaye (APC, Kogi West) called on President Buhari to rejig his cabinet by either sacking incompetent ministers or reshuffling some by sending them to other ministries where they could perform better. While Ekweremadu urged the President to move the Minister of Finance, Kemi Adeosun and Budget & Planning Minister, Udoma Udo Udoma to other ministries where they could be more productive, Senator Melaye called for outright sack. Ekweremadu,who particularly asked the President to move Udoma to the Ministry of Trade and Investment, stressed that there was need to restructure by unbundling the Federal Government because it was over-loaded at the moment, adding that there was also the need to diversify the economy. Ekweremadu and Senator George Akume (APC, Benue North-West), however, opposed the call for sale of government’s oil assets. Senator Akume cautioned against the calls for the sale of Federal Government assets “since the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has said the country would come out of recession in the fourth quarter.” He added: “We should put so much in agriculture to revamp the economy. I am worried because people who are telling us to sell these assets are people who have big pockets. Our assets must remain for us. For many years, we have been talking about cash calls.” Ekweremadu,however, advocated the need to amend Section 162 (3,4,5,6) of the constitution with a view to stopping the monthly sharing of money among the federal, states and local governments. Ekweremadu said: “In the first place, distinguished colleagues, we passed a budget for 2016 and we envisaged the situation we ‘ve found ourselves and we believe that the best thing to do is to increase the budget for 2016 so as to reflate the economy. But we are almost in the last quarter and yet no releases are being made. I think the best thing to do at this point, your excellency, distinguished colleagues, is for the government to consciously release as much money as possible into the economy. “Yes, we are saying there is no money; the oil price has dropped but we were also told that through the TSA, we have about N3 trillion somewhere. We were also told that the former minister of petroleum returned $20 million. We were also told that politicians have returned several billions of Naira, Dollars and Pounds. It is either that this is not true or that the money is somewhere and if it is not true, someone needs to apologize to us and state the correct thing and if it is true, this money has to be released to contractors so that they can go to work and those in the construction industries will be paid and then they will pay the school fees of their children and money will circulate. If we have money in the economy, I am sure that shortly, we will also find some relief. “Secondly, the President needs to look at his cabinet. He has to put square pegs in square holes. Your Excellency, distinguished colleagues, Udo Udoma is my friend, an accomplished lawyer for that matter but in fairness to him, I believe he can do better in another ministry especially like Trade and Investment; certainly not Budget and Planning. The Minister of Finance can do much better in another ministry. At this critical time, we need somebody who is more experienced to man the Ministry of Finance so that he can be able to coordinate the strategies for this recovery. “I also believe that we need to have all hands on deck right now. It does not matter their religion, it does not matter their party. We need to go all out and look for the best brains to help us come out of this recession. At this point, it does not matter to us whether you are APC or PDP or you are non-aligned. The important thing is that the President has to look for the best people to come together to proffer solutions. It does not matter which party you belong to.”

Calls for fresh deal between FG, oil majors
Ekweremadu also called for fresh negotiations between the Federal Government and oil companies, saying such negotiations would enable the government to free enough money, adding that the government needed to boost investors’ confidence by stopping the labeling of all Nigerians as corrupt persons. “We need restructuring. We need to unbundle this federal government from security, to power, to agric, to social sectors. A situation where the Federal Government is in charge of everything is not helpful. We need to unbundle this country. If you like, call it restructuring. It might be a long term strategy and it might be in phases and it is something that we need to do quickly. “I have heard about the issue of selling of our assets. I need to caution that other countries are not doing the same. United Arab Emirates (UAE) does not even allow you to buy oil wells, let alone selling them. And of course, for a country like Saudi Arabia their budget each year is run by investments from their oil revenue. I’m sure we will not be fair to the next generation. So, if we must sell, we have to sell the non-performing assets so that people can turn them around and generate employment. We need to amend Section 162 especially from 3,4,5,6 where each money in the federation account is enjoined to be shared among the other levels of government.” In his contribution, Senator Matthew Urhoghide (PDP, Edo South) noted that the major economic problem was that of militancy in the Niger Delta, just as he urged the Federal Government to resolve the problem and ensure increase in oil production is guaranteed. Contributing, Senator Peter Nwaoboshi (PDP, Delta North) who decried the cut in allocation for the Niger Delta and Amnesty programme, said that there must be confidence in justice and judiciary for investors to have confidence in Nigeria, just as he stressed the need for dialogue with Niger Delta militants. Senator Nwaoboshi said: “We all know what is meant by recession. When a country witnesses negative economic growth for two quarters, it is said to be in recession. Mr President, I would like to speak on the issue of rule of law, because for an economy to grow, the investors must know that they will have justice in whatever they are doing. “So, I want to say here that one of the things that is causing the problem is lack of confidence in our judicial system and in the law that we have in this country. Let me say that that as long as we continue to threaten the militants and the people from that area, they will continue to resist and they will continue to destroy the pipelines there. I believe that if we are talking about the immediate remedy to this recession, we should dialogue with the people in that area.” On his part, Senator Samuel Anyanwu (PDP, Imo East) called for a critical roundtable discussion, saying the body language of President Buhari must change to attract investors to boost the economy and get the country out of the present economic crisis. Also contributing, Deputy Chief Whip, Senator Francis Alimikhena (APC, Edo North) said, “When this government came on stream, the only commodity we have nosedived to $27 per barrel. “If we now follow the principle of what you have, there was nothing to share, that is the cause of this recession that we are having now. And to compound it, the supply aspect of the commodity was reduced following the restiveness in the Niger Delta. Now, the immediate solution to this problem is to dialogue with these Niger Delta militants so that the supply side of the crude oil could rise. Again, the TSA should be reviewed since it has generated a lot of controversy so that there can be more money in circulation.” Senator Mao Ohuabunwa (PDP, Abia North) said, “I want to say here that we need a complete paradigm shift. First and foremost, the constitution has given us power of oversight over all these agencies. The first time we invited the minister of finance and the CBN governor, the minister said it was a technical recession and that we were going to get out of it very soon but we didn’t ask where is the template, where is the landmark, where is the checklist so that at every point, if it’s going to be quarterly or monthly, we tick what we have done. But as I speak to you today, there’s no timeline. “Having said that, I want to say again that we should watch what we say because at times, they say what you said would be used as evidence against you. When we leave this country and go outside this country and paint this country in a very bad light, then who will come here to invest? When you say that you are so corrupt, who will come here to invest? So, we must watch what we say, I’m talking from a political point of view, not just economic. These are practical things, these are physical things, things we can say and the effect will be immediate. So, I think we should watch what we say, who we talk to and the way we present this country.” In his contribution, Senator Shehu Sani (APC, Kaduna Central) said that the nation’s dependence on oil revenue has been the problem and that the poor in the country have been living under recession. Senator Sani said: “It is very unfortunate that we found ourselves here deliberately because we should have forecast that dependence on oil revenue cannot be sustainable. I must say this very clearly that the poor in Nigeria have always lived under recession. And what this recession has done is to increase their hardship. “You can’t depend on one source of revenue and not find yourself in this kind of situation. We must cut interest rates, start diversification of the economy, empower small businesses so that they will be able to produce and export. The key to getting out of this is export of goods and services. “Removing the Minister of Finance will not be able to get us out of this problem because this recession is not Nigeria’s alone. It is all countries that are dependent on oil revenue.” Also contributing, Senator Rabiu Kwankwaso (APC, Kano Central) said: “The Federal Government should liaise with states, local governments and other stakeholders in the training and re-training of particularly youth and women in various trades like poultry, horticulture, football making, bee farming, plumbing, mechanics, interior decoration, leather works, butchery, vulcanizing, saloon business, livestock etc. “The Federal Government needs to create opportunities that will link these trainees with financial institutions like Micro-Finance Banks and where possible assist them with start-up capital. The key driver that will ensure the diversification of our economy is for government to ensure the supply of a reliable and affordable power supply.

Governments should focus more on construction works, agric

Governments spending should be directed at projects like Agriculture and Construction works because these often always have direct multiplying effect on the lives of the citizens. Furthermore, the private sector should also be encouraged to invest in these two sectors. “Government should ensure timely supply of subsidized farm inputs. Another critical issue that could help address our economic woes is for government to provide fertilizers, seeds and pesticides at a subsidized rate and at the appropriate time before the rains set in.” Speaking further, Senator Dino Melaye who noted that hunger and poverty neither recognise nor respect political parties or religious affiliations, said, “Let us put politics aside because our bolekaja approach to this boju-boju economics will not help us.” Melaye who called for more concerted efforts to attract Foreign Direct Investments (FDIs), blocking of leakages and dialogue with the Niger Delta Avengers, said there was need for strategic ministries and agencies of government to be manned by competent and experienced Nigerians, even as he called on the Senate President to personally take the resolutions of the Senate after the debate to the President. Also contributing, Senator John Enoh, PDP, Cross River Central who called on his colleagues to put politics aside and think for the country on how to solve the recession through new direction and initiatives, said that the recession was painful as it is provides an opportunity for the country to re-strategize and move forward, adding, “Let government increase spending. The economy has contracted but deficit spending will make sure the economy does not suffer.”

I am Ogodogun Oghenekevwe